(Eurodad, Brussels, 6 December 2011) Export Credit Agencies are debt-creating agencies. The loans they create are driven by the interests of exporters and their home countries, rather than a concern for whether the loans are useful to the host country. This report shows that export credit guarantees are at the root of most developing country debt owed to European governments. Eurodad assessed the debts owed by developing countries to 4 European countries and found that almost 80 percent of poor countries’ debts to other governments came from export credits, not development loans.
Date
2 December 2011
